Vanda Pharmaceuticals Inc. (NASDAQ: VNDA)
Hagens Berman Sobol Shapiro LLP reminds investors in Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) of the April 26, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Eastern District of New York.
If you purchased or otherwise acquired shares of VNDA between November 4, 2015 and February 11, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing VNDA@hbsslaw.com.
According to the complaint, during the class period Defendants misled investors about (1) Vanda’s engagement in a fraudulent scheme in which it promoted the off-label use of 2 drugs (Fanapt and Hetlioz), (2) Vanda’s fraudulent receipt of drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs, and (3) Vanda’s use of misleading promotional materials for the drugs.
On February 11, 2019, Aurelius Value published a link to the U.S. Department of Health and Human Services’ and several States’ unsealed complaint, which charges Vanda violated and continues to violate Federal and State false claims acts and applicable regulatory and ethical guidance by submitting fraudulent bills to the government as a result of off-label marketing and other prohibited marketing strategies.
“We’re focused on matters raised in the Federal and States complaint that, if true, could have misled investors,” said Hagens Berman partner Reed Kathrein.
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